JCP&L Suspends Summer Shut-Offs as New Jersey Electricity Rates Increase 20%
HOLMDEL, N.J. — A failed state energy plan has resulted in electricity rate increases as high as 20% in New Jersey, thanks to Governor Phil Murphy’s failed clean energy agenda, but one…
Bank of England to raise rates by 50bps again to tame inflation: Reuters Poll
By Jonathan Cable LONDON (Reuters) – The Bank of England looks set to hike borrowing costs by another 50 basis points next week, although it may opt for an even bigger move,…
Bank of America sees BoE raising rates to 4% by Aug 2023
LONDON (Reuters) – Bank of America revised up its forecast for the peak in Bank of England interest rates to 4% on Tuesday from a previous estimate of 3.25%, saying the central…
Bank of America CEO predicts income boost from higher rates
NEW YORK (Reuters) – Bank of America Corp expects a “big bump” in the income it earns from rising interest rates, its chief executive officer told investors at a conference on Monday.…
Munich Re says reinsurance rates likely to rise
FRANKFURT (Reuters) – Munich Re said reinsurance rates were set to rise across the industry, caused by inflation, higher interest rates and a decline in capital to underpin underwriting activity. In a…
Cubans juggle exchange rates, soaring prices as peso plunges to 30-year low
By Dave Sherwood HAVANA (Reuters) – Rider Gonzalez helps run a small cafe in touristy downtown Havana, a challenge in a country where coffee-shop staples like milk and flour are scarce, sometimes…
Polish interest rates should rise further – c.banker Tyrowicz
WARSAW (Reuters) -Interest rates in Poland should rise further given the economic situation, newly-appointed rate-setter Joanna Tyrowicz said on Friday. “Clearly, our current economic situation calls for (interest rates) increases. By what…
Australian lenders NAB, ANZ to raise home loan rates by 50 bps
(Reuters) – Australia and New Zealand Banking Group joined National Australia Bank in raising its variable home loan interest rates on Friday, passing on the central bank’s 50 basis points (bps) rate…
ECB raises rates by unprecedented 75 basis points
LONDON (Reuters) – The European Central Bank raised interest rates by an unprecedented 75 basis points on Thursday in an effort to tame runaway inflation. The ECB lifted its deposit rate to…
ECB raises rates by unprecedented 75 basis points
FRANKFURT (Reuters) – The European Central Bank raised interest rates by an unprecedented 75 basis points on Thursday to tame runaway inflation, even as a recession is now increasingly likely as the…
Goldman Sachs steepens U.S. rates outlook
SINGAPORE (Reuters) – Goldman Sachs expects a steeper path for U.S. rate rises and a 75 basis point hike this month, as Federal Reserve officials have been sounding hawkish recently, the investment…
Analysis-As interest rates jump, Canadian borrowers turn to credit unions for mortgages
By Nichola Saminather TORONTO (Reuters) – In a country where the Big Six banks control 80% mortgage market share, Canada’s smaller lenders are making some rare headway after the Bank of Canada’s…
Thai central bank to hike rates gradually to contain inflation – chief
By Orathai Sriring and Satawasin Sta[censored]charnchai BANGKOK (Reuters) – Thailand’s central bank will raise interest rates gradually to curb inflation and ensure a smooth recovery as the economy is expected to return…
Fed’s Barkin warns rates must stay high until inflation eases- FT
(Reuters) – The U.S. Federal Reserve must lift interest rates to a level that restrains economic activity and keep them there until policymakers are “convinced” that inflation is subsiding, Richmond Fed President…
BOJ to keep low rates even as inflation seen hitting 3% – ex-central bank policymaker
By Leika Kihara and Takahiko Wada TOKYO (Reuters) – The Bank of Japan (BOJ) will likely maintain its massive stimulus even as inflation is seen reaching 3% in coming months, to ensure…
Reinsurance premiums to rise as inflation bites – ratings agencies
LONDON (Reuters) -Reinsurers are likely to raise premium rates in the next few months, given pressures from inflation, war in Ukraine, climate change and capital market volatility, ratings agency analysts said on…
Czech interest rates already at high level, central bank governor says
PRAGUE (Reuters) – Czech interest rates are already at a high level that is dampening domestic demand pressures, central bank Governor Ales Michl said on Monday. Michl said in a series of…
Boom turns to gloom as higher interest rates hit New Zealand housing- Reuters poll
By Vivek Mishra BENGALURU (Reuters) – New Zealand’s house prices are forecast to fall 10% this year and 5% next as aggressive interest rate hikes take some heat out of a blazing…
India’s Q1 growth may not deter RBI from raising rates -analysts
By Dharamraj Lalit Dhutia MUMBAI (Reuters) – India’s lower-than-expected economic growth in April-June is unlikely to alter the course for the Reserve Bank of India that is anchored to taming inflation with…
ECB’s next move on rates should be ‘orderly and predictable’ -Villeroy
PARIS (Reuters) – The European Central Bank’s move on interest rates next week must be “orderly and predictable”, French ECB policymaker Francois Villeroy de Galhau said on Wednesday. With euro zone inflation…
Fed’s Mester: interest rates need to rise ‘somewhat above’ 4%
(Reuters) – The U.S. Federal Reserve will need to raise interest rates somewhat above 4% by early next year and then hold them there in order to bring too high inflation back…
Japan regulator to enhance bank surveillance as foreign interest rates rise
By Makiko Yamazaki and Takahiko Wada TOKYO (Reuters) – Japan will step up surveillance of banks’ risk control as interest rises abroad create latent losses in their foreign bond holdings, reflecting concerns…
ECB rates may need to go higher than neutral, Wunsch says
ALPBACH, Austria (Reuters) – The European Central Bank may need to raise interest rates to a level that starts to restrict economic activity or above what is considered the “neutral” rate, Belgian…
Deutsche Bank appoints Matthew Raskin as head of U.S. rates research – memo
(Reuters) – Deutsche Bank has appointed New York Fed economist and policy adviser Matthew Raskin as a managing director and U.S. head of rates research, according to an internal memo seen by…
Analysis-Investors shun risk as Fed pushes higher-for-longer rates
By Davide Barbuscia and Carolina Mandl NEW YORK (Reuters) – Investors are bracing for higher interest rates for longer and hunkering down with defensive portfolios which shun high equities risk, as U.S.…
Fed’s Mester sees rates above 4%, says Powell speech ‘strong’ – BBG TV
(Reuters) – Cleveland Federal Reserve President Loretta Mester on Friday said she thinks the U.S. central bank needs to lift interest rates above 4% and said she believed Chair Jerome Powell delivered…
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